Summary
- TD Cowen said that even after the CLARITY Act cleared the Senate Banking Committee, the prospects for final passage of the bill remain uncertain.
- It said additional political variables remain, along with jurisdictional coordination and consolidation with the Senate Agriculture Committee, before the CLARITY Act can pass the full Senate.
- Markets are watching how final passage of the CLARITY Act could affect the U.S. digital-asset regulatory framework, expanded institutional investment, and growth in the tokenization market.
Forecast Trend Report by Period
Wall Street investment bank TD Cowen said the CLARITY Act’s approval by the Senate Banking Committee does not guarantee final passage, pointing to additional political hurdles in Congress.
The Block reported on May 14 that TD Cowen said passage through the Senate Banking Committee "does not guarantee passage on the Senate floor."
TD Cowen said some Democratic lawmakers who supported the bill in committee could still vote against it in the full Senate if amendments they requested are not included in the final version.
Recent markup of the CLARITY Act featured sharp debate over DeFi regulation, anti-money laundering rules, conflicts of interest involving public officials, and stablecoin compensation structures.
The bill will next go through jurisdictional coordination and consolidation with the Senate Agriculture Committee before advancing to a full Senate vote.
Markets are closely watching whether the CLARITY Act ultimately passes because of its potential impact on the U.S. digital-asset regulatory framework, institutional investment and growth in the tokenization market.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
